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NWL

Newell Brands

$26.21

-0.89 (-3.28%)

, FTNT

Fortinet

$59.46

-0.06 (-0.10%)

14:50
05/15/18
05/15
14:50
05/15/18
14:50

Starboard made Newell top three holding in Q1, exited Fortinet

Jeffrey Smith's Starboard Value disclosed in a regulatory filing its holdings as of March 31, 2018. Starboard made 1 new buy during the first quarter, acquiring 18.6M shares of Newell Brands (NWL). The fund exited 4 positions during the quarter, including by size of previous position, Fortinet(FTNT), Stewart Information (STC), Monotype Imaging (TYPE) and Cognizant (CTSH). Starboard increased its stake in 5 holdings, including by size, Forest City (FCE.A), Macerich (MAC), and Mellanox (MLNX). The fund reduced its stake in 6 holdings, including Brink's (BCO), Bemis (BMS) and Baxter (BAX). Starboard's top holdings as of March 31, in order of size, were Perrigo (PRGO), Marvell (MRVL), Newell, Mellanox and Advance Auto Parts (AAP).

NWL

Newell Brands

$26.21

-0.89 (-3.28%)

FTNT

Fortinet

$59.46

-0.06 (-0.10%)

STC

Stewart

$42.27

0.27 (0.64%)

TYPE

Monotype Imaging

$21.20

0.3 (1.44%)

CTSH

Cognizant

$75.61

-0.25 (-0.33%)

FCE.A

Forest City

$19.65

-0.2 (-1.01%)

MAC

Macerich

$53.83

-2.03 (-3.63%)

MLNX

Mellanox

$83.45

-0.85 (-1.01%)

BCO

Brink's

$71.45

-2.35 (-3.18%)

BMS

Bemis

$42.74

-0.95 (-2.17%)

BAX

Baxter

$70.46

-0.75 (-1.05%)

MRVL

Marvell

$21.66

-0.27 (-1.23%)

PRGO

Perrigo

$75.39

0.43 (0.57%)

AAP

Advance Auto Parts

$119.46

-2.14 (-1.76%)

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NWL Newell Brands
$26.21

-0.89 (-3.28%)

04/17/18
04/17/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Hold from Sell at Pivotal Research with analyst Brian Wieser saying the company "has a lot of positive elements" heading into the back half of the year, including a strong film slate, the launch of new direct to consumer over-the-top services, and efforts in support of the close of the Fox (FOXA) transaction. 2. Coca-Cola (KO) upgraded to Neutral from Sell at Goldman Sachs with analyst Judy Hong saying she sees an improving organic sales growth outlook, "cleaner base" post-refranchising, and better visibility on its margin and earnings targets. 3. Merck (MRK) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger saying the Keytruda+chemo combination showed better than expected results in lung cancer, boosting the company's immuno-oncology lead against Bristol-Myers (BMY). 4. Newell Brands (NWL) upgraded to Outperform from Market Perform at Wells Fargo with analyst Bonnie Herzog saying the stock's setup is good looking forward, with greater potential upside than downside risk over the next 12 months. 5. Twitter (TWTR) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Brian Nowak citing recent advertiser conversations that have continued to be incrementally positive about Twitter's ad business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/27/18
03/27/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Newell Brands (NWL) downgraded to Hold from Buy at SunTrust with analyst William Chappell saying the stock is in "no-man's land" for a few quarters after its decision to increase its asset sale to $10B from $6B without disclosing which assets are sold following its recent agreement with activist shareholder Starboard Value. 2. Macerich (MAC) and Simon Property (SPG) were downgraded to Neutral from Overweight at JPMorgan. 3. Kimco Realty (KIM) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Richard Hill saying he is cautious on REITs in general, but higher quality strips are better positioned to mitigate decelerating growth risks. 4. Range Resources (RRC) downgraded to Market Perform from Outperform at Bernstein with analyst Bob Brackett saying he believes gas levered names, particularly those with significant debt loads, are likely to struggle as gas prices compress cash margins. 5. Dominion Midstream (DM) downgraded to In Line from Outperform at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/17/18
WELS
04/17/18
UPGRADE
WELS
Outperform
Newell Brands upgraded to Outperform from Market Perform at Wells Fargo
04/17/18
WELS
04/17/18
UPGRADE
Target $33
WELS
Outperform
Newell Brands upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Bonnie Herzog upgraded Newell Brands to Outperform and raised her price target for the shares to $33 from $25. The stock's setup is good looking forward, with greater potential upside than downside risk over the next 12 months, Herzog tells investors in a research note. She calls her upgrade more of an event-driven break-up call versus a fundamental improvement call. The analyst's break-up analysis suggests the targeted $10B after-tax proceeds from the planned divestitures could prove conservative. Newell's current valuation is not reflective of its underlying value, Herzog contends.
FTNT Fortinet
$59.46

-0.06 (-0.10%)

04/11/18
04/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Avis Budget (CAR) downgraded to Neutral from Buy at Northcoast with analyst John Healy citing valuation. 2. Affiliated Managers (AMG) downgraded to Market Perform at Keefe Bruyette. 3. Valero (VLO) and PBF Energy (PBF) were downgraded to Sector Perform from Outperform at Scotia Howard Weil. 4. Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Melissa Franchi saying she favors security vendors who are exposed to markets where the cloud drives higher security spending and have optimal business models for the cloud. 5. Mitel (MITL) downgraded to Sector Perform from Outperform at National Bank with the firm citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/04/18
PIPR
05/04/18
NO CHANGE
Target $64
PIPR
Overweight
Fortinet price target raised to $64 from $57 at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski raised his price target for Fortinet to $64 saying the company last night reported another solid quarter, with every metric exceeding guidance and consensus. The analyst believes Fortinet continues to take market share in the enterprise space. He reiterates an Overweight rating on the stock.
05/04/18
JPMS
05/04/18
NO CHANGE
Target $58
JPMS
Neutral
Fortinet price target raised to $58 from $50 at JPMorgan
JPMorgan analyst Sterling Auty raised his price target for Fortinet to $58 saying the company a "good" Q1 that was inflated by accounting changes. It will take time for investors to digest the impacts of Accounting Standards Codification 606 on the quarter and guide for revenue and margins, Auty tells investors in a research note. He sees the quarter as a balance with billings up 15% and margin expansion. The analyst keeps a Neutral rating on Fortinet shares.
04/11/18
04/11/18
NO CHANGE

Market mispricing cloud security opportuntity, says Morgan Stanley
Morgan Stanley analyst Melissa Franchi noted that the average security stock has significantly underperformed the broader software space over the past 3 years, which she attributes to bearishness on security vendors' ability to navigate the increased competitive threat from public cloud vendors and disruption as enterprises turn to decentralized and cloud-heavy architectures. However, her CIO survey work and industry conversations lead her to estimate third-party security vendors will realize 9% topline growth through 2020, while the consensus is only pricing in 5%. Franchi said she favors security vendors who are exposed to markets where the cloud drives higher security spending and have optimal business models for the cloud and identified Palo Alto Networks (PANW), Cisco (CSCO), Proofpoint (PFPT) and Sophos (SPHHF) as well-positioned vendors poised for outperformance. As previously reported, she also downgraded Fortinet (FTNT) to Equal Weight this morning.
STC Stewart
$42.27

0.27 (0.64%)

11/08/17
KBWI
11/08/17
UPGRADE
Target $39
KBWI
Market Perform
Stewart upgraded to Market Perform from Underperform at Keefe Bruyette
Keefe Bruyette analyst Bose George upgraded Stewart to Market Perform and raised his price target for the shares to $39 from $38 following the company's Q3 results.
TYPE Monotype Imaging
$21.20

0.3 (1.44%)

12/12/17
JPMS
12/12/17
DOWNGRADE
Target $24
JPMS
Underweight
Monotype Imaging downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Sterling Auty downgraded Monotype Imaging to Underweight with an unchanged price target of $24 in conjunction with his 2018 annual outlook for Software Technology. The analyst does not expect the "exceptional performance" in Software during 2017 to repeat in 2018. As such, he's moderating his bullish outlook into next year.
12/12/17
12/12/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Juno Therapeutics (JUNO) downgraded to Market Perform from Outperform at Wells Fargo, with analyst Jim Birchenough saying that while data for JCAR017 continue to support a potential best-in-class profile in aggressive lymphoma, the current valuation already reflects dominant market positioning over Gilead's (GILD) Yescarta. 2. General Dynamics (GD) downgraded to Underweight from Neutral at JPMorgan, with analyst Seth Seifman saying Gulfstream questions are unlikely to be resolved in the near term. Demand for G500/600 is ok for now, but uncertainty about ultimate production levels and the pace of the learning curve mean the transition will remain a near term overhang, the analyst said. Seifman also downgraded Raytheon (RTN) to Neutral from Underweight. 3. Adobe (ADBE), Barracuda (CUDA), GoDaddy (GDDY), Fortinet (FTNT) and Check Point (CHKP) downgraded to Neutral from Overweight and CoStar Group (CSGP), Imperva (IMPV) and Monotype Imaging (TYPE) downgraded to Underweight from Overweight at JPMorgan by analyst Sterling Auty in conjunction with his 2018 annual outlook for Software Technology. The analyst does not expect the "exceptional performance" in Software during 2017 to repeat in 2018. 4. Spark Therapeutics (ONCE) downgraded to Neutral from Buy at UBS, with analyst Carter Gould seeing a "challenging setup" for the shares after the Phase 1/2 SPK-8011 data in hemophilia A fell short of expectations. The analyst removed SPK-8011, or $29 per share, and early-stage pipeline value, or $12 per share, from his model. He finds it difficult to be more constructive on Spark shares in the near-term. 5. Electronic Arts (EA) downgraded to Buy from Conviction Buy at Goldman Sachs by analyst Christopher Merwin to reflect fewer near-term catalysts around in-game monetization of non-sports titles. To see The Fly's full Street Research coverage, click here.
02/20/18
RILY
02/20/18
UPGRADE
Target $24.6
RILY
Buy
Monotype Imaging upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Kevin Liu upgraded Monotype Imaging to Buy and raised his price target for the shares to $31 from $24.50 following the company's better than expected Q4 results.
CTSH Cognizant
$75.61

-0.25 (-0.33%)

03/27/18
LOOP
03/27/18
NO CHANGE
Target $92
LOOP
Buy
Cognizant exposure to financial services is a positive, says Loop Capital
Loop Capital analyst Joseph Vafi raised his price target on Cognizant to $92 from $90, saying his private channel checks suggest improving demand for IT services firms, particularly those with high exposure to financial services. Vafi also keeps his Buy rating on Cognizant, forecasting some "incremental multiple expansion" in 2018 amid accelerating revenue growth.
05/08/18
FBCO
05/08/18
NO CHANGE
Target $95
FBCO
Outperform
Cognizant price target lowered to $95 from $100 at Credit Suisse
Credit Suisse analyst Charles Brennan lowered his price target for Cognizant to $95 from $100 due to slight EPS revisions and a slightly lower Accenture PE. The analyst reiterates an Outperform rating on the shares.
03/28/18
BERN
03/28/18
INITIATION
Target $85
BERN
Market Perform
Cognizant initiated with a Market Perform at Bernstein
Bernstein analyst Harshita Rawat started Cognizant with a Market Perform rating and $85 price target as she believes execution risks remain on path to maturity.
04/03/18
WEDB
04/03/18
NO CHANGE
WEDB
Activision Blizzard, Cognizant among Wedbush Best Ideas
Wedbush analyst Jesse Bigelow notes that his firm's Best Ideas List is comprised of "the highest rated U.S. Equities, chosen by its analysts and vetted by committee." The list includes Activision Blizzard (ATVI), Cognizant Technology Solutions (CTSH), Electronic Arts (EA), Fiesta Restaurant Group (FRGI), Foot Locker (FL), Norwegian Cruise Line Holdings (NCLH), Proofpoint (PFPT), Regions Financial (RF), and Worldpay (WP).
FCE.A Forest City
$19.65

-0.2 (-1.01%)

09/12/17
EVER
09/12/17
DOWNGRADE
EVER
In Line
Forest City Enterprises downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst Sheila McGrath downgraded Forest City to In Line following significant share outperformance year-to-date and maintained a $28 price target.
03/26/18
EVER
03/26/18
UPGRADE
Target $25
EVER
Outperform
Forest City upgraded to Outperform from In Line at Evercore ISI
Evercore ISI analyst Sheila McGrath upgraded Forest City to Outperform with a $25 price target. The analyst views the pullack in the shares as overdone.
02/02/18
02/02/18
DOWNGRADE
Target $22

Sell
GGP downgraded to Sell at Sandler ONeill on lower chances of higher bid
As previously reported, Sandler ONeill analyst Alexander Goldfarb downgraded GGP (GGP) to Sell from Hold, as he believes the chances of a materially higher price bid from Brookfield (BAM) have decreased. He notes that a report this week that Brookfield may be interested in acquiring another REIT - Forest City Realty (FCE.A) - caused GGP to trade under the $23 level for the first time since November 10 and he now thinks $24 is likely the best offer for GGP. Absent a deal, the stock could trade back towards its pre-M&A level of $19, contends Goldfarb, who has a $22 price target on GGP shares.
MAC Macerich
$53.83

-2.03 (-3.63%)

04/20/18
KEYB
04/20/18
NO CHANGE
Target $75
KEYB
Overweight
Macerich CEO retirement may be viewed as catalyst for transaction, says KeyBanc
KeyBanc analyst Todd Thomas said yesterday's announcement that Art Coppola will retire from his position as chairman and CEO of Macerich on December 31 is "surprising," and comes at a time when two activist investors have reportedly staked interests in the company. Thomas, who has an Overweight rating and $75 price target on shares, thinks Coppola's retirement may be viewed as a potential catalyst for a transaction to materialize, and sees shares outperforming on the announcement.
04/20/18
BMOC
04/20/18
UPGRADE
Target $66
BMOC
Outperform
Macerich upgraded to Outperform at BMO Capital on 'discount' valuation
As reported earlier, BMO Capital analyst R. Jeremy Metz upgraded Macerich to Outperform from Market Perform and raised his price target $66 from $62, saying the departure of long-time CEO Art Coppola "clears a significant roadblock" amid activist involvement and discount valuation. Metz adds there is potential for an "inflection" in fundamentals in FY18/19 and accelerating in same-store net operating income from more long-term oriented decisions by mall tenants that could lead to recovery in the stock price. The analyst contends that Macerich has "one of the most desirable US mall portfolio".
04/20/18
MZHO
04/20/18
UPGRADE
Target $65
MZHO
Buy
Macerich upgraded to Buy from Neutral at Mizuho
Mizuho analyst Haendel St. Juste upgraded Macerich to Buy and raised his price target for the shares to $65 from $63. BMO Capital this morning also upgraded the stock. The resignation of Chairman Art Coppola "meaningfully" raises the probability of a takeover, and should spur outperformance near-term, St. Juste tells investors in a research note. The analyst's net ass value/private market estimate for Macerich's portfolio is $69 per share.
04/20/18
04/20/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Twitter (TWTR) upgraded to Buy from Neutral at MKM Partners with analyst Rob Sanderson telling investors that the service is "here to stay," citing its rebounding user growth and continued turnaround progress. 2. Macerich (MAC) upgraded to Outperform from Market Perform at BMO Capital and to Buy from Neutral at Mizuho. 3. Home Bancshares (HOMB) upgraded to Buy from Hold at Sandler O'Neill and to Outperform from Market Perform at Fig Partners. 4. UGI Corporation (UGI) upgraded to Buy from Neutral at UBS with analyst Shneur Gershuni saying the company offers above average earnings growth potential and strong financial metrics. 5. Darden (DRI) upgraded to Outperform from Market Perform at Bernstein. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MLNX Mellanox
$83.45

-0.85 (-1.01%)

04/18/18
FBCO
04/18/18
NO CHANGE
Target $75
FBCO
Neutral
Mellanox price target raised to $75 from $65 at Credit Suisse
Credit Suisse analyst John Pitzer raised his price target for Mellanox to $75 from $65 following quarterly results. The analyst reiterates a Neutral rating on the shares.
04/17/18
SUSQ
04/17/18
NO CHANGE
SUSQ
Mellanox price target raised to $90 from $80 at Susquehanna
Susquehanna analyst Christopher Rolland raised his price target on Mellanox to $90 from $80 and kept a Positive rating on shares, saying that Mellanox's Q1 results and FY18 guidance support the firm's core belief that "operating margins at Mellanox can expand from 20% today to eventually exceed 30%."
04/17/18
LOOP
04/17/18
NO CHANGE
LOOP
Mellanox's earnings report better than expected, says Loop Capital
Loop Capital analyst James Kisner noted that Mellanox's Q1 results were "even better than what was implied by preannouncement guidance," and that the company's Q2 and FY18 guidance were also above consensus estimates. Kisner believes Mellanox is likely to benefit from the adoption of its high-speed Ethernet network interface cards and switches by hyperscale Internet/Web 2.0 companies, and called the involvement of activist investor Starboard a positive catalyst for the company. The analyst reiterated a Buy rating and $100 price target on Mellanox shares.
04/18/18
DADA
04/18/18
NO CHANGE
Target $100
DADA
Buy
Mellanox price target raised to $100 from $91 at DA Davidson
DA Davidson analyst Mark Kelleher raised his price target on Mellanox to $100, saying the company is well positioned for top and bottom line growth over the next several years. The analyst cites the launch of the 200GB Infiniband protocol and the rapid deployment of 25GB ethernet in data centers, also keeping his Buy rating on Mellanox.
BCO Brink's
$71.45

-2.35 (-3.18%)

03/26/18
BUCK
03/26/18
INITIATION
Target $100
BUCK
Buy
Brink's initiated with a Buy at Buckingham
Buckingham initiated Brink's with a Buy and $100 price target.
02/08/18
GABE
02/08/18
UPGRADE
GABE
Buy
Brink's upgraded to Buy from Hold at Gabelli
Gabelli analyst Ashish Sinha upgraded Brink's to Buy following the inline Q4 report but said the update on the performance towards 2019 targets is encouraging and the recent selloff has provided a sufficient margin of safety to his $89 private market value estimate.
01/11/18
SIDC
01/11/18
UPGRADE
SIDC
Buy
Brink's upgraded to Buy from Neutral at Sidoti
01/18/18
IMPC
01/18/18
NO CHANGE
Target $100
IMPC
Outperform
Brink's price target raised to $100 from $86 at Imperial Capital
Imperial Capital analyst Jeff Kessler raised his price target for The Brink's Company to $100 saying he sees much for investors to be positive about in 2018-2019. The company continues to implement initiatives to support future growth, Kessler tells investors in a research note. He keeps an Outperform rating on the shares.
BMS Bemis
$42.74

-0.95 (-2.17%)

09/15/17
BOFA
09/15/17
UPGRADE
Target $51
BOFA
Neutral
Bemis upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst George Staphos upgraded Bemis to Neutral and raised its price target to $50 from $46. The analyst believes shares are more positively skewed following speculation the company might be acquired by Amcor.
12/06/17
KEYB
12/06/17
NO CHANGE
KEYB
Sector Weight
Bemis' room for margin improvement may not be far from target, says KeyBanc
In further analysis of the New York Post report that said Bemis (BMS) has hired Goldman Sachs (GS) to explore its options, KeyBanc analyst Adam Josephson raised the question of what Bemis' margins "should be." His analysis suggests Bemis has room for about 200-250 basis points of margin improvement, which he notes is "not dramatically different" than the company's current cost savings target. Bemis' EBITDA could grow $150M in the hands of the acquirer if everything goes according to plan, which "doesn't strike us as compelling for the buyer," wrote Josephson, who has a Sector Weight rating on the stock.
01/02/18
BOFA
01/02/18
DOWNGRADE
BOFA
Underperform
Bemis downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst George Staphos downgraded Bemis to Underperform and raised its price target to $52 from $51 saying it doesn't screen well in an environment where global growth and emerging markets are picking up and rates are rising.
04/02/18
BOFA
04/02/18
UPGRADE
Target $50
BOFA
Buy
Bemis upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill analyst George Staphos upgraded Bemis two notches to Buy from Underperform and trimmed its price target to $50 from $53 saying shares have lagged the group. Staphos' discussions indicate both management and employees view improving performance as "imperative" and sees efforts to optimize manufacturing capacity and reduce SG&A costs as ultimately delivering better results. Further, The analyst notes traditional flexible packaging volumes have improved early in the year.
BAX Baxter
$70.46

-0.75 (-1.05%)

05/14/18
ARGS
05/14/18
NO CHANGE
ARGS
Hold
Baxter pullback would warrant a potential upgrade, says Argus
Argus analyst John Eade kept his Hold rating on Baxter after the company's Q1 earnings beat and raised FY18 outlook, saying he would consider an upgrade if the stock price pulled back to the mid-$60's range. The analyst notes that Baxter has "substantially improved profitability in recent quarters" even as it continues to rely on M&A as a source of revenue and margin growth. Eade adds that while the company's Renal and Hospital Products segments are mature businesses, the company's balance sheet is clean, and the management's recent dividend raise is indicative of its confidence in Baxter's prospects.
02/20/18
DBAB
02/20/18
UPGRADE
Target $80
DBAB
Buy
Baxter upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Kristen Stewart upgraded Baxter International to Buy and raised her price target for the shares to $80 from $50. The analyst expects management to execute well and she views the company's 2018 guidance as achievable, if not conservative. She sees the May analyst day as an upcoming catalyst and believes the stock deserves a premium valuation.
01/03/18
EVER
01/03/18
INITIATION
Target $71
EVER
Outperform
Baxter initiated with an Outperform at Evercore ISI
Evercore ISI analyst Vijay Kumar started Baxter with an Outperform rating and $71 price target. The analyst thinks Baxter should be able to meet or beat 2018 Street expectations and its balance sheet strength gives it over $10B in capacity for M&A, he tells investors.
02/02/18
COWN
02/02/18
NO CHANGE
Target $78
COWN
Market Perform
Baxter guidance reaction unwarranted, says Cowen
Cowen analyst Joshua Jennings noted Baxter's Q2 guidance implied a headwind to operating margins and the shares sold off. The analyst believes the selloff was an overreaction and unwarranted, though, as he believes the guidance could be conservative and it will not disrupt the company's multiyear margin progress. Jennings maintained his Market Perform rating and raised his price target to $78 from $68 on Baxter shares.
MRVL Marvell
$21.66

-0.27 (-1.23%)

04/25/18
NEED
04/25/18
NO CHANGE
NEED
Full ban of sales to Huawei 'highly improbable,' says Needham
Needham analysts Alex Henderson and N. Quinn Bolton said they sees the chances of an outright ban of sales to Huawei as "extremely low," adding that it is their understanding the probe into Huawei has been ongoing for the last two years while noting that the ZTE probe took over five years to complete. The ironic impact of any escalation in trade tension could be an increase in demand from Huawei to build an inventory buffer should there be a supply disruption, added the analysts, who also say they would not be surprised to see a trade agreement with China include a resolution of the ZTE (ZTCOY) ban and possibly an agreement on the scope of action against Huawei.
04/19/18
LEHM
04/19/18
NO CHANGE
Target $9
LEHM
Underweight
AMD price target lowered to $9 from $10 at Barclays
Barclays analyst Blayne Curtis lowered his price target for AMD (AMD) to $9 and keeps an Underweight rating on the name. Ahead of the company's Q1 results, the analyst says "mining drama is back to the forefront for GPUs." While restocking should help the June quarter, the risk to the second half will be the key debate, Curtis tells investors in a research note on U.S. Semiconductors. His best ideas for 2018 are Marvell Technology (MRVL), Intel (INTC) and Skyworks (SWKS).
04/18/18
04/18/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. DXC Technology (DXC) initiated with a Hold at Berenberg. 2. Marvell (MRVL) initiated with a Buy at Longbow. 3. AquaVenture (WAAS) initiated with an Outperform at JMP Securities. 4. IPG Photonics (IPGP) initiated with an Outperform at Bernstein. 5. Ollie's Bargain Outlet (OLLI) initiated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/18/18
LBOW
04/18/18
INITIATION
Target $27
LBOW
Buy
Marvell initiated with a Buy at Longbow
Longbow analyst Mike Burton initiated Marvell with a Buy and $27 price target.
PRGO Perrigo
$75.39

0.43 (0.57%)

05/15/18
ADAM
05/15/18
NO CHANGE
Target $105
ADAM
Buy
Perrigo ProAir setback disappointing but thesis intact, says Canaccord
Canaccord analyst Dewey Steadman said the delay of Perrigo's generic ProAir is disappointing, but the company's diversification keeps the thesis intact. The analyst said he was impressed with the speed of disclosure of the expected CRL, but he believes the drug will not be coming in Q4 as expected. He has adjusted his model for a 2020 launch and has faith in the company's ability to deliver and grow revenues. Steadman reiterated his Buy rating and $105 price target on Perrigo shares.
03/05/18
OPCO
03/05/18
NO CHANGE
Target $98
OPCO
Outperform
Perrigo guidance achievable as new CEO takes the helm, says Oppenheimer
Oppenheimer analyst Derek Archila notes Perrigo issued 2018 EPS guidance bracketing consensus estimates, which he thinks should sit well with investors and could lead to a modest beat/raise story throughout 2018. The analyst thinks the recent 10% selloff on the delayed EPS report was unwarranted and believes the company's guidance under the CEO may prove to be conservative as Perrigo has several levers to generate value in the next 12-18 months. Archila would be a buyer of the stock at these levels, and reiterates an Outperform rating and $98 price target on the shares.
05/14/18
CANT
05/14/18
NO CHANGE
Target $107
CANT
Overweight
'Holding our breath' on ProAir until Perrigo gives more details, says Cantor
Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $107 price target on Perrigo after the company's announcement on Friday that it expects to receive a CRL from the FDA regarding its ProAir generic ANDA, which will likely disappoint the Street as the company had previously guided to approval and a launch by the fourth quarter. As a result, Chen told investors in a research note that Perrigo no longer expects to achieve the ~9c per share benefit that was included in its 2018 adjusted EPS forecast, and the company has not commented on if it can make this benefit up through sales of other products or cost costs. Chen also said it is "not clear" why Perrigo took ProAir out of its guidance now, but thinks the Street can finally refocus on fundamentals, driving greater appreciation for the company's growth prospects and earnings potential.
05/14/18
WELS
05/14/18
NO CHANGE
Target $84
WELS
Market Perform
Perrigo price target lowered to $84 from $90 at Wells Fargo
Wells Fargo analyst David Maris lowered his price target for Perrigo to $84 from $90 following the news that the company now expects to receive a complete response letter from the FDA on its generic ProAir filing and that Perrigo no longer expects an approval of its ProAir generic to be a 2018 event. The analyst reiterates Market Perform rating on the shares.
AAP Advance Auto Parts
$119.46

-2.14 (-1.76%)

05/08/18
05/08/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Advance Auto Parts (AAP) upgraded to Overweight from Neutral at Atlantic Equities with analyst Sam Hudson saying he expects an inflection in comps and margins when the company reports towards the end of May. 2. Northrop Grumman (NOC) and Harris (HRS) were upgraded to Conviction Buy from Buy at Goldman Sachs. 3. Louisiana-Pacific (LPX) upgraded to Buy from Neutral at DA Davidson with analyst Steven Chercover saying while the oriented strand board prices are near or at their peak, the company's blend of earnings power, balance sheet liquidity, and sales mix offer a "compelling value" at the stock's current price level. 4. Columbia Property (CXP) upgraded to Buy from Neutral at Goldman Sachs with analyst Andrew Rosivach saying he sees an attractive entry point at current share levels. 5. Loma Negra (LOMA) upgraded to Buy from Hold at HSBC and to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/08/18
ATLE
05/08/18
UPGRADE
Target $140
ATLE
Overweight
Advance Auto Parts upgraded to Overweight at Atlantic Equities
As previously reported, Atlantic Equities upgraded Advanced Auto Parts to Overweight from Neutral with a $140 price target. Analyst Sam Hudson expects an inflection in comps and margins when the company reports towards the end of May. Hudson notes industry fundamentals are improving and Advance Auto should benefit from favorable weather in the Northeast.
05/08/18
ATLE
05/08/18
UPGRADE
ATLE
Overweight
Advance Auto Parts upgraded to Overweight from Neutral at Atlantic Equities
04/23/18
WELS
04/23/18
INITIATION
Target $110
WELS
Market Perform
Advance Auto Parts initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Zachary Fadem started Advance Auto Parts with a Market Perform rating and $110 price target.

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Citi

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MRSN

Mersana Therapeutics

$6.04

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Hot Stocks
Progressive reports October EPS (6c) vs. 27c last year »

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Hi-Crush Partners

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HCLP

Hi-Crush Partners

$6.35

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APRN

Blue Apron

$1.22

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BPL

Buckeye Partners

$31.66

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ECYT

Endocyte

$23.59

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AAXJ

iShares MSCI All Country Asia Ex Japan

$64.36

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EWZ

MSCI Brazil Index

$38.32

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NEPT

Neptune Wellness

$3.20

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CRON

Cronos Group

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UEIC

Universal Electronics

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Verizon

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Verizon

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Liberty Global

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Discovery

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CCI

Crown Castle

$110.70

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TMUS

T-Mobile

$68.45

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ZAYO

Zayo Group

$24.05

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ERIC

Ericsson

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Swisscom

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ASML

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TDOC

Teladoc

$58.56

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MDRX

Allscripts

$9.89

-0.26 (-2.56%)

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APD

Air Products

$158.15

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